|By Business Wire||
|March 20, 2014 11:43 AM EDT||
Velocity Venture Capital, the premier venture capital firm in the greater Sacramento / Northern California region, announced the grand opening of its Entrepreneurs Campus that seeks to stimulate a burgeoning technology ecosystem.
The one-acre campus originally housed Folsom’s first elementary school, which opened in 1912 and is being repurposed for the 21st Century era of technology and innovation. It is designed to serve as a launch pad for efforts to ignite, accelerate, and capitalize new ventures throughout the region and has the potential to create billions in new revenue and thousands of new jobs.
Jack Crawford, General Partner of Velocity Venture Capital, touted the region’s potential for economic growth:
We are thrilled to be investing in the promise offered by the Sacramento / Northern California area, which has been home to more than $5.7 billion in tech-based IPOs or sales in little more than a decade. Our Entrepreneurs Campus holds true to our firm’s core belief in investing in this area, its people and their ideas, which will create a lasting impact that will stand the test of time.
Our Entrepreneurs Campus will be the driver for attracting even more investment to the region. Today’s launch demonstrates our belief that this region is truly a hidden gem for investors and entrepreneurs alike.
Bobby Franklin, President and CEO of the National Venture Capital Association (NVCA), praised Velocity’s leadership, saying the creation of a campus for aspiring entrepreneurs in an up-and-coming tech ecosystem will help lead to greater prosperity for investors and innovators:
The foundation Velocity Venture Capital is building has the potential to reshape the economic outlook in the Sacramento region in a big way and could serve as a model for future efforts across the country. This unique ability to think big for every stakeholder, whether entrepreneur, investor or community member goes above and beyond the traditional role of the VC in the creation of this new, innovation economy.
Phil Wickham, President and CEO of the Kauffman Fellows Program, a leadership development program for leading venture capitalists, hailed Velocity Venture Capital for the firm’s willingness to embrace the pay it forward mentality so prevalent in the technology industry:
The creation of the Entrepreneurs Campus is a monumental step toward the creation of Sacramento as a force in California’s tech revolution. Creating a collaborative environment for entrepreneurs, investors and corporate venture funds to interact will certainly springboard the entrepreneurial community into the upper echelon.
The Entrepreneurs Campus will host the ongoing Entrepreneurs Showcase developed by Velocity Venture Capital. Since its inception in 2010, the Entrepreneurs Showcase program has included mentorship for more than 70 companies, including Snippet, a publishing app for writers, Pondera, a software security company focused on the government sector, SmartCase, a mobile phone case that consolidates your wallet and more into an elegant storage device, and CirrusMD, a mobile software platform that connects doctors and patients.
Sponsors and partners of the Entrepreneurs Showcase and Campus include: National Venture Capital Association, Kauffman Fellows Program, Samsung, Dell, Oracle, Silicon Valley Bank, AT&T, Bank of America, Calinnovates, University of Pacific, Folsom Cordova Unified School District, FedCorp and a number of other key influencers in California’s technology ecosystem.
Velocity is now accepting applications for the Entrepreneurs Showcase at: http://www.velocityvc.com/entrepreneurs-showcase/
To learn more about Velocity, visit www.velocityvc.com.